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STORY: Here's what's been making the business headlines in sub-Saharan Africa this week.

1. African leaders proposed new global taxes and reforms to financial institutions to help fund climate change action, at Africa's first climate summit.

[Kenyan President William Ruto, saying:] ""We demand a fair playing ground for our countries to access the investment needed to unlock the potential and translate it into opportunities."

The Nairobi Declaration, which forms the basis of their negotiating position at November's COP28 summit, urged support for a global regime that included carbon taxes on the fossil fuel trade, maritime transport and aviation.

Despite suffering some of the worst impacts of climate change, Africa only receives about 12% of the $300 billion in annual financing it needs to cope, according to researchers.

2. Anglo American's De Beers said on Friday (September 8) that it is confident ongoing talks with South Africa's biggest mineworkers' union will avert a wage strike at the country's largest diamond mine.

On Tuesday (September 5), the National Union of Mineworkers said it was planning a strike at Venetia as De Beers could only offer a 6% pay increase against demands for 9%.

3. Ghana's sovereign wealth fund will invest almost $33 million in what is set to be the West African country's first lithium mine and take a minority stake in its developer, Atlantic Lithium, the company said in a statement.

It's a sign of a surge in interest in companies that produce the key electric vehicle battery metal amid the clean energy transition.

4. Zambia has agreed to return control of Konkola Copper Mines to India's Vedanta Resources, mines minister Paul Kabuswe said on Tuesday.

That ends a row over the ownership of assets that erupted in 2019 when authorities seized the mines. Kabuswe said Vedanta has pledged to invest more than $1.2 billion to increase output and repay outstanding debts.

5. And finally, a long awaited light railway began operations in Lagos on Monday (September 4).

The Blue Line links the Nigerian megacity's mainland, where most people live, to the more affluent Lagos Island, where many businesses are headquartered.

Authorities say a journey that once took more than two hours in Lagos's infamous traffic gridlocks, will now take 15 minutes.